Member Info for Manlord

Q3. If non-friendly jurisdiction such as the UK where the LSE is located, cannot receive dividend payments from Russian assets, what value is there for LSE based shares being owned by shareholders in friendly or non-friendly jurisdiction? If only AIX bases shares of Polymetal or a potential split of Poly-R can receive dividends from Russian assets, what is the advantage to maintaining a LSE listing?
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It is not the listing location that determines whether jurisdiction of a business is “friendly” or “not friendly”, but it’s jurisdictional domicile, i.e. place of registration. If your logic was correct and listing determined whether dividends could be distributed, we would be in an impossible position of being able to pay those shareholders who hold their shares on MOEX and AIX, but not LSE. This isn’t the case. In addition, feedback from overwhelming majority of investors we’re receiving is that LSE listing is highly desirable, if not mandatory requisite for holding our shares.

ML

Q2. What is the advantage to the company and its shareholders behind a potential split into Poly-R and Poly-K if, Russian assets generate FCF in the future and dividend payments can be transferred to shares listed on an exchange in a friendly jurisdiction, such as AIX?
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It is our (management) and the Board’s view that in our present shape restoration of shareholder value is all but impossible. Russian nexus acts as a significant depressant for value of the sum of the Russian and Kazakh parts, precludes the vast majority of Western institutional investors from buying the stock, and prevents most Western financial market intermediaries (brokers and prime brokers, custodians, index providers and administrators) from facilitating trading of POLY shares. It is therefore imperative to allow value to be crystallised for the part of the business which is doesn’t have Russian nexus (Kazakhstan), while reflection of the full value or the Russian part of the business may take much longer, subject to geopolitical developments.

ML

Q1. Are shareholders with citizenship with or physically residing in unfriendly jurisdictions (US, UK, Australia, NZ, Japan, Canada) only able to receive dividends from Russian assets if their Polymetal shares or subsequent Poly-R shares are listed on an exchange in a friendly jurisdiction, such as AIX?
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We are advised that as long as the commercial entity paying dividends is located (but not necessarily listed) in the “friendly jurisdiction” Russian capital controls allow cash distribution to the shareholders of such entity, regardless of their own residence/citizenship, i.e. it’s the domicile that matters.

ML

Great minds…………..28-01

ML

Has certainly improved here.

Todays RNS confirms that the next stage of Pitfield operations has begun and is not only on schedule, but ahead of schedule.

Bang in the work and get some initial results before Xmas with a hell of a run in Q1 2023.

The giant copper resource is all but 100% confirmed for me. SB wants this out and wants it out quick. He has attended conferences, done multiple interviews & has informed shareholders all the way through.

The only reason he has done this is because he knows full well what he has there and make no mistake, I’m certain EEE has already undertaken some of their own “small, accurate but quick testing on-site to give a strong indication of what’s likely to be discovered & confirmed at Pitfield.

SB is not someone who drives up the expectancy to fall on his face, not his style based on his historical employment and reputation, nor is Dr.Neil O’Brien and you should check him out because he is a big big hitter with links to all majors.

All going well - ignore the noise and focus on the LT prospects! You will be rewarded.

Target is double digits from here within 6 months. Small time to wait in AIM, long long long time to wait in a bank ;-)

ML

Also someone doing their very best to have google show the SP at 2p close today. Sent multiple 2p trades in late on and hoped the MM’s would clear the trades (which they did) but the 2.75m buy has taken the google close :-)

Got to love the tricks of the trade - bravo for the effort.

Off out to my Xmas party - I will not be here until the afternoon…………………………………..of Saturday :-)

ML

Just popped up!

Huge loading up in the background.

ML

The story of what’s brewing!

All new investors or those sitting on the sidelines should watch before deciding what to do.

https://youtu.be/K8COXApul_s

ML

Anything brewing here?

Yeah, you could say there is. A GIANT brew of copper.

ML

Trying to slow the rise by doubling the indicated spread.

This is still 15% cheaper than the 2p placing price & you now have the luxury of having 3 significant RNS updates confirming full belief from Shaun Bunn & independent reviewer on having a GIANT (RNS words, not mine) copper resource at Pitfield.

See you all well into double digits at some point in the future. Low single digits now which is a gift.

ML

https://youtu.be/K8COXApul_s

ML

and focus on the long-term.

Been doing a huge amount of research since the GIANT copper resource news and have firmly decided their is only one primary investment case. Might not be the safest investment strategy, however, I've been loading up and here is the reason why.

Demand has dramatically increased and the fundamental story for copper in the long-term is an extremely positive one. Copper has played a huge role in the world economy for generations due to its use in many day to day industries and with it being recyclable only 12% of all copper available has been mined to date. It's the new oil and I believe prices could reach $20,000/Tonne within the next 3 years. It is the single best conductor of electricity known to physics as well as the periodic table and if we are to electrify the world and decarbonise, copper will be needed in abundance. The climate agenda as I'm sure you have seen has been pushed heavily and with the media narrative strongly behind that agenda you can be sure 95% of the population will believe what they are told & buy into that narrative further pushing the demand for sustainability (whether you believe in climate change or not).
Electric vehicles and decarbonisation are the two main drivers and cannot be increased / reduced without copper and taking a cyclical view on this, now is the time to position for a copper bull market. These demand drivers are predominantly via green-tech but there are so many more applications which copper is also critical for.

Have you heard of Dr.Copper? I hadn't either but essentially commodity traders & economists view copper as having a Phd in economics, i.e. it is a barometer for economic activity so in that sense it's a marker for economic growth but it doesn't always follow a set pattern, but it's pretty accurate. Economic activity up = copper prices up and vice-versa.

Brace yourselves for a green energy revolution, new power grids using solar, wind, water feeding electricity into copper wires. EV's need 3.5 times the level of copper than an ICE vehicle to produce - think about that as decarbonising becomes a primary agenda for all world governments!

Conventional energy requires about 1 metric tonne per megawatt of generating capacity whereas renewable energies are 4-6 times that level :-)
Solar installations have an even greater need with 9 times that amount needed. As we move to decarbonised economy we are replacing C in the periodic table with Cu.

What does this mean for us, well higher copper prices mean majors will look to break ground to extract copper given a bigger payoff in doing so, or take if from a proven resource (Pitfield). This is great news for Empire and the main investment case here. I wouldn't get bogged down with daily, monthly SP fluctuations as they are inconsequential to the bigger picture.

If you think we do have a giant resource, buy buy buy as it will be sold sold sold at multiples of current ask.

Good luck. Nice to see a blue d

4m buys Vs 2m sells and down she goes 3.77% :-)

I love the AIM “in a Patrice Evra accent”

ML

Last month, I’ll mop up anything coming close to 1p over & over & just let SB do his job.

Buy when people are not buying ;-)

ML

Not sure how I missed this one but apologies if already shared.

https://youtu.be/K8COXApul_s

ML

https://www.minister.industry.gov.au/ministers/king/speeches/speech-international-mining-and-resources-conference

Got to love a pro-mining jurisdiction!

ML

EEE was 24% up yesterday but for a purposely executed “1” trade to show Empire as level for the day.

It created the illusion of 28% up today when actually it was about 3% up today, & down on the open price if the truth be told.

Makes little difference because you’re now paying the same as all the buys from yesterday afternoon who were banking on an unknown RNS, that or it was pure coincidence that a stream of buys arrived when it would have been lodged with Nomad / LSE.

ML

The one trade yesterday dragging the close down to level (from 24%) meant we opened at 1.65p (30% up) but actually EEE is up just 3% today.

I’ve always found it interesting to see people hold off buying when they see a massive gap up on open as if they have already missed the boat :-)

If this closed as it should yesterday, people would see the low % rise and the SP would fly.

The bonus associated with this is that traders tend to stay away as they can’t fleece people with spikes so it’s not a bad thing, it’s just an interesting view of open & close SP’s.

The next 12 weeks will be load up time before a potentially company making 2023 & beyond. All the right steps have been taken and they were taken slowly & in a considered manner.

Shaun looks to be doing a good job here.

ML

Morning BR,

Point 5 in the investment summary clears up any talk of a placing!

“ Well funded for the surface mapping/IP surveys at Pifield, the drill campaigns at Eclipse- Gindalbie and the regional exploration activities (geophysical surveys, geochemical mapping, etc) at the Stavely and Walton projects”

ML

Well there’s the “1” trade reason!

RNS was lodged & it was a big one!!!! In fact, it’s a GIANT copper & silver one.

Enjoy the day guys.

ML